Working with Budgets

    Target Audience

    The Working with Budgets course is designed for top and mid-level managers in SMEs who are:

    • Members of the board
    • Department heads
    • Chief accountant, or management and financial accountants
    Participants not mentioned here may not find the topic useful to their work.
    Course Objectives
    At the end of this course, participants will be able to:
    • Identify the benefits of budgets.
    • Practice basic processes to set up master budgets in an enterprises.
    • Use budgets to control business activities.
    • Identify principles to effectively apply budgets in enterprises.
    Content
    • Introduction to the workshop
    • Session 1: Budgets and the benefits of budgets
      • What is a budget?
      • The benefits of budgets
    • Session 2: Budgeting process
      • Step 1 – Forming a budget team
      • Step 2 – Identifying the decisive factor and the key budget
      • Step 3 – Collecting and consolidating information
      • Step 4 – Developing master budgets
      • Step 5 – Approving budgets
    • Session 3: Using budgets
      • Using flexible budgets
      • Analyzing variance
      • Taking actions
    • Session 4: Notes for manager
      • Principles for successfully applying budgets in enterprises
    • Concluding remarks, action planning and wrap-up
    Course Duration
    1.5 days (10.5 hours)

     

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